1973 brought some mild
restyling. The urethane front bumper became standard, and was
enlarged in accordance with new NHTSA standards. All Mustang models
had their sportlamps re-purposed as turn signals, as the new bumper
covered part of the front valance (and therefore the previous turn
signal location). These new lamps - unlike their 1971/72
counterparts - were now oriented vertically. Both a Mach 1 and base
grille were offered, with differing insert patterns.

Mach 1 decals were also revised in 1972 for 1973 models, and the
previous hockey stick side stripes of 1971–1972 models became an
option on hardtops and convertibles with the addition of the
'Exterior Decor Group'. Magnum 500 wheels, previously optional, were
superseded by forged aluminum 5-hole wheels.

The 1973 model year Mustang was the final version of the original
pony car, as the model name migrated to the economy, Ford
Pinto-based Mustang II the next year.

Other Variants

A small number of Mexican-produced cars were manufactured with the
'GT-351' trim package, under license by Shelby de Mexico.
Additionally, 14 Shelby Europa vehicles were modified and decaled by
Belgian Shelby dealer Claude Dubois for European clientele.